In some markets, as few as 2.6 percent of renter households could afford the cost of an average home.
Just 15.1 percent of renter households in the United States could afford to buy an average-priced home in their area, according to an analysis from Zillow.
The crisis is worst in, unsurprisingly, West Coast markets, writes Lance Lambert in Fast Company. In San Diego, just 2.6 percent of renters could afford to buy a home. San Jose, Los Angeles, San Francisco, and Salt Lake City round out the top five most inaccessible markets, with the percentage of renters who could afford homes ranging from 2.7 percent to 3.8 percent.
The report notes, “The fact that the majority of families don’t have the income necessary to comfortably afford the typical monthly mortgage cost in their local market suggests that removing roadblocks to building more affordable housing would have the most significant impact on improving access to home ownership.”
FULL STORY: Housing affordability is so stretched that fewer than 3% of renters can afford to buy in some markets
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A new report highlights the factors driving up housing costs around the country.
Rents Rose Between December and January
After dropping to a three-year low, U.S. rent costs grew in many major cities.
Cities and States Taking Action to Limit Rent-Setting AI
Federal prosecutors are charging a software company with using algorithms to artificially inflate rents.
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Balancing Bombs and Butterflies: How the National Guard Protects a Rare Species
The National Guard at Fort Indiantown Gap uses GIS technology and land management strategies to balance military training with conservation efforts, ensuring the survival of the rare eastern regal fritillary butterfly.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service